Stock futures point to bounce on China data; earnings eyed


Stock index futures edged higher on Wednesday, indicating indexes may bounce from declines a day earlier when the Dow suffered its biggest drop in four months, following data from China that eased concerns about sluggish global growth.

* Commercial jet and defense giant Boeing and the second-largest U.S. wireless carrier AT&T Inc are expected to report strong results. Other companies announcing earnings include Kimberly-Clark and Bristol-Myers Squibb .

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* Dow Chemical Co , the largest chemical maker in the United States, said on Tuesday it plans to cut 5 percent of its workforce and shutter 20 plants as part of a restructuring program aimed at countering a slowing global economy. Its shares advanced 1.6 percent to $29 in premarket trade.

* With results in from 29 percent of S&P 500 companies, 37 percent have exceeded revenue forecasts, far below the 62 percent average, and just 57.2 percent of the S&P 500 names reporting so far have beaten earnings forecasts, according to Thomson Reuters data.

* European shares advanced on Wednesday, encouraged by Chinese data and bouncing back after a steep sell-off on Tuesday.

(Editing by Bernadette Baum)